Raymond James Financial Inc. Buys New Shares in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Raymond James Financial Inc. purchased a new stake in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 243,678 shares of the transportation company’s stock, valued at approximately $5,356,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in Air Transport Services Group by 0.8% in the 4th quarter. Rhumbline Advisers now owns 83,623 shares of the transportation company’s stock valued at $1,838,000 after purchasing an additional 686 shares during the last quarter. Cetera Trust Company N.A raised its stake in Air Transport Services Group by 6.6% in the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock valued at $256,000 after buying an additional 725 shares during the period. Independence Bank of Kentucky acquired a new stake in shares of Air Transport Services Group in the fourth quarter valued at approximately $33,000. SG Americas Securities LLC boosted its stake in shares of Air Transport Services Group by 27.1% during the 4th quarter. SG Americas Securities LLC now owns 16,863 shares of the transportation company’s stock worth $371,000 after acquiring an additional 3,597 shares during the period. Finally, Oliver Luxxe Assets LLC increased its holdings in shares of Air Transport Services Group by 4.1% during the 4th quarter. Oliver Luxxe Assets LLC now owns 121,965 shares of the transportation company’s stock worth $2,681,000 after acquiring an additional 4,849 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Air Transport Services Group in a research report on Friday, March 21st. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

Shares of Air Transport Services Group stock opened at $22.34 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -558.36 and a beta of 0.79. Air Transport Services Group, Inc. has a twelve month low of $11.69 and a twelve month high of $22.38. The company has a 50-day simple moving average of $22.26 and a two-hundred day simple moving average of $20.30.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $521.36 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. Analysts forecast that Air Transport Services Group, Inc. will post 0.83 EPS for the current year.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.